Why Germany Won’t Let The Euro Collapse…

From Bloomberg:

Germany was the main beneficiary from the euro in 2010, when the single currency increased the region’s wealth by 332 billion euros ($424 billion), or about 3.6 per cent of gross domestic product, a McKinsey study showed.

We’ve talked about this a lot, but it’s always good to be reminded, that for all the talk of the Germans subsidizing their poorer neighbours, it’s the Euro which is a big subsidy to Germans, and it’s the debt of all those neighbours that funds the German export miracle.

Along those lines, we thought this chart from Reuters’ Scotty Barber was pretty fantastic.

chart